Question

Kitchen dishcloths are often difficult to rinse clean and typically dry slowly. A company recently developed a disposable kitchen cloth that rinses easily and dries quickly. Because this is a new product to the market, it can be said to be in the ________ stage of its product life cycle.

Answer 1

Answer:

Introduction

Explanation:

The product life cycle is the process of defining different phases of product going from one phase to another until it perishes from the market over a period of time. It helps companies to implement strategies according to the stage of the product in the market. The four phases of product life cycle are:

• Introduction
• growth
• maturity.
• Decline.

Introduction: It is an initial stage of a product, where a new product is released in the market and stakes are very high as it requires more investment and promotion.

In the given case, a company have developed a new product and introduced in the market, therefore the product is in introduction stage of product life cycle.